Minerva signs drilling contract

Companies: MVA

17/06/2008

Gold and silver explorer Minerva Resources is to obtain drilling services for £750,000 from Chinese exploration company Full Mining Gold.

AIM-quoted Minerva (formerly Palladex) has been involved in projects in Kyrgyzstan, where Full Mining Gold is working on the Ishtamberdy prospect. However, Minerva’s prime focus is now on Ethiopia, where key projects include the Tulu Kapi, Gudeya-Guji and Guji gold prospects and the Yubdo platinum mine.

Minerva shares fell from more than 20p four years ago to 2.75p in 2006. They now trade at 4.88p, valuing the company at £5.45 million.

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Robert Tyerman

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Minerva Resources	AIM	£1.36m	0.88p	0.00p
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Other company articles:
Minerva signs drilling contract			17/06/2008
Gold nuggets for Minerva			09/11/2007
Loss-making MyVal plays it long			01/09/2000
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